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Gold rises as lower US treasury yields boost demand for Investing.com

© Reuters.

By Gina Lee

Investment.com – Gold rose Wednesday morning in Asia as softer US Treasury yields increased demand for the safe-haven yellow metal.

was up 0.22% to $ 1,782.40 at 12:26 AM ET (4:26 AM GMT). Copper, which usually tends to be inverse with gold, while the yield on US treasury bonds drops below 1.6%.

OANDA senior market analyst Jeffrey Halley told Reuters: “As long as US 10-year yields remain lower, gold appears to be gathering strength to test the 100-day moving average. at $ 1,802 an ounce in the coming days, ”OANDA senior market analyst Jeffrey Halley told Reuters.

Meanwhile, investors are waiting for policy decisions from central banks globally, including Thursday and in the following week. Investors expect the Fed and other central banks to be “dovish” due to the growing number of COVID-19 cases, senior commodity director Phillip Futures Avtar Sandu told Reuters.

According to Johns Hopkins University data, the number of COVID-19 infections globally exceeded 142.5 million as of April 21.

In other precious metals, silver slid 0.3% and platinum decreased 0.4%, while palladium increased 0.6%.

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